Naval Tracking Systems Market Size, Share & Industry Analysis, By Type (Wired, Wireless), By Communication Technology (Cellular, GPS/Satellite, Dual Mode), By Systems (Automated Identification System, Long Range Identification & Tracking, Synthetic-Aperture Radar, Others), By Vessel Type (Passenger Vehicle, Light Commercial Vehicle, Heavy Commercial Vehicle), By Application (Transportation & Logistics, Construction, Oil & Gas) and Regional Forecast, 2024-2032

The global Naval Tracking Systems Market is undergoing notable growth, with a substantial CAGR expected during the forecast period leading up to 2032. Naval tracking systems is a combination of technologically advanced tracking equipment. The naval tracking system are used to identify the current location of naval vessel. The naval tracking system are keeping a long range connectivity between naval ships and coast guards of naval forces. The naval vessel tracking systems are providing a better service by using the inbuilt internet connectivity.

The factors expected to drive the market is increasing the demand of naval tracking systems to improve the saftey of naval vessel. Moreover, the growing demand of naval tracking system from the emerging economy such as China and India is anticipated to boost the market. Growing demand of advanced integrated solutions for naval vesseles by using electro-optical tracking system are the upcoming opportunities for the market. However, operational complexity to design naval tracking system are affecting the market growth.

Key Market Driver -

Growing Demand for Naval Tracking System to Identify the Live Location of Naval Ship

Key Market Restraint -

Operational Complexities to Design Naval Tracking System

Market Segmentation:

By type the market is classified as wired and wireless. By communication technology the market is segmented as cellular, gps/satellite, and dual mode.By systems, the market is segmented into automated identification system, long range identification & tracking,synthetic-aperture radar, and others. Based on vessel type, the market is segmented into passenger vehicle,light commercial vehicle,and heavy commercial vehicle. Based on application the market is classified as transportation & logistics, construction, oil & gas, mining, and emergency services.From a geographical standpoint, the market is categorized into North America, Europe, Asia Pacific, and Rest of the world.

Key Players Covered:

• ATrack Technology Inc.(Taiwan)


• CalAmp Corporation(The U.S.)


• Cartrack Pty Ltd( South Africa)


• Garmin Ltd.(The U.S.)


• Geotab Inc(Canada)


• Laird PLC (The U.K.)


• ORBCOMM Inc.(The U.S.)


• Starcom Systems Ltd.(The U.S.)


• TomTom International B.V.(Netherland)


• Verizon Communications( The U.S.)


• Others

Key Insights

• Growing Demand for Naval Tracking System to Identify the Live Location of Naval Ship


• Growing demand of advanced integrated solutions for naval vessels

Regional Analysis:

The naval tracking systems market has been segmented into North America, Europe, Asia Pacific, and Rest of the world. North America is estimated to show significant market growth during the forecast timeline. The growth in the region is owing to the increasing use of naval tracking systems in the U.S and Canada to establish a tracking connectivity of naval vessel on the sea floor.

Asia-Pacific is expected to be the largest market share during the forecast period. This growth is attributed to the growing shipbuilding industry in South Korea and China. According to the United Nations Conference on Trade and Development (UNCTAD) 2018 report, China and South Korea has been occupied 78% of global shipbuilding industry. The increasing demand of naval vessel will reflect on the naval tracking system as it are the essential system of naval vessel.

Europe registers significant market growth in the naval tracking systems during the forecast period. This growth is owing to the presence of multiple naval tracking vendors in the U.K. and France. In the Rest of the world, the increasing the adoption of naval tracking systems in Latin America, and Middle East & Africa are propelling the market.

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Segmentation

Naval Tracking Systems Market Industry Developments

• In February 2020, Ultra and the UK Ministry of Defence has been signed a contract to support the electro-optical tracking system for the type 45 Destroyer of the U.K. royal navy. Electro-optical tracking system is providing the advanced sensor technology, configured from a common set of commercial baseline modules.


• In December 2019, Sonardyne International Ltd. and the Republic of Korea Navy has been signed a contract to provide sonar dyne ranger 2 ultra-short baseline system for search and recovery operations run by auxiliary submarine rescue ship.